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Q I Journal
The pay model policies play a crucial role in an organization’s pay strategy. The second step of the total compensation strategy identifies with the objectives, alignment, competitiveness, contributions, and management in developing a successful strategy. What are your thoughts on your current or past compensation pay grades, levels, and/or categories, and how you are awarded? What would you change? Please explain.
Your journal entry must be at least 200 words in length. No references or citations are necessary.
Compensation: Direct and Indirect = Total Compensation (Research)
Per the textbook, compensation can come in the form of financial returns, tangible services, and benefits. The two types of compensation are direct and indirect. Direct consists of pay for work performed. Indirect consists of the perks and benefits associated with the position/employment.
Imagine that you are a human resources (HR) manager, and it is your responsibility to identify data to help strategize, benchmark, and develop proper pay compensation for all positions within the organization. There are tons of software, vendors, and/or other services available to help with developing the pay grades, levels, and/or categories. Some sites you may consider using include the www.bls.gov, website where you can search via the Occupational Outlook Handbook and the www.onetonline.gov website where you can select career choice, scroll down to Wages & Employment Trends, click Local Salary Info, then select State.
For this assignment, you will create an eight- to ten-slide PowerPoint presentation. You will first choose a job title and a location to present the findings/results. Imagine that you are presenting to your company leaders, and ensure that you identify the following components:
As you create the content slides for your presentation, be sure to use the speaker notes function to explain the content in detail for each of the slides.
Note: Keep the 6×6 PowerPoint rule in mind (i.e., slides should only include six to seven lines of content with no more than six to seven words per line). Any illustrations should relate to the content being discussed. Be creative!
Include a title slide and a references slide in your presentation; however, please note that these slides do not count toward meeting the total slide count requirement.
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